actually thats not quite right
BGA stands for Ball Grid Array
It's the name of the package that the i.c (or in this case ram) comes as.
basically, a normal ram chip has its pins either side of its body, which are soldered in place onto the pcb.
BGA, has its pins underneath its body. Im not the best at explaining it, but here goes...
each pin of a bga chip has a tiny Ball of solder on it, and those pins are arranged in a Grid Array
now when the pcb is build, and the components are put on it, the chip is rested in place, and then put through an infra-red oven, which heats the balls of solder up, and solders the pins to the pcb.
Having the pins underneath allows for a smaller overall package, and also is better protected from shortages and such.
Also, most of the time, bga chips are also manufactured on a smaller process than 'normal' chip - meaning they run cooler and faster (much like the xp thoroughbred is made on a smaller process than the xp palamino)
which is why they are the favourable package for graphics card ram. Its also starting to be used as system ram